Scott buys and sells a weekly magazine. The weekly demand for the magazine is approximately normally distributed
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Question:
Scott buys and sells a weekly magazine. The weekly demand for the magazine is approximately normally distributed with a mean of 25 and a standard deviation of
10. Each copy of the magazine costs $4 to buy, and is sold for $12. Each unsold copy can be salvaged for $1. Determine the optimal number of copies Scott should buy each week.
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